May 7, 2011 – Economist Gregory Mankaw wrote this article published in the N.Y. Times. Here’s a great, honest quote to start the article: “After more than a quarter-century as a professional economist, I have a confession to make: There is a lot I don’t know about the economy.” Noting that most people don’t run into humble economists, Mankaw declares that economists confidence in their predictions is more often based on bravado than true knowledge. He then goes on to discuss the three questions that perplex him: 1) How long will it take for the economy’s wounds to heal?; 2) How long with inflation expectations remain anchored?; and 3) How long will the bond market trust the United States? He ends with another great, quotable line: “If you find an economist who says he knows the answers, listen carefully, but be skeptical of everything you hear.”
To read the full article: Mankaw NYT article
